Changes to Emerging Companies Fund PDS and IB

Dear Investor

Eley Griffiths Group very recently made changes to both the Product Disclosure Statement and the Information Booklet for the Eley Griffiths Group Emerging Companies Fund (ARSN 616 328 128, APIR PIM5346AU) in relation to transactional and operational costs.

The documents reflect that the fund may incur transaction costs associated with selling or buying assets as part of its day to day trading activities.

An adjustment has also been made to the fund’s buy-sell spread (from +0.275% /-0.275% to +0.242%/-0.242%) to reflect the lower brokerage rate now paid by the fund.

This is advice only and does not require action by investors.

I would be happy to discuss these changes should any investor require additional clarification.